18 spaces hit the market as available in the subject area in the last 7 days, equating to 170,000 SF, roughly in the range (yet higher end) of recent weekly additions;
ONLY 5 spaces (over 1,000 SF) came off the market equating to 140,000 SF, albeit 4 of the spaces were full floors removed from the sublease market in the lower block of 10 St. James.
DID YOU KNOW?: the 213 acre “LMA” (Longwood Medical & Academic Area) is home to 7 world class hospitals and 11 private & public secondary and colleges & universities. Pre-COVID, 111,000 people a day come to the LMA! 2.6 million patients are treated in the LMA – EVERY YEAR! Also, the LMA has its own power generation facility called “MATEP”.
Sadly, the availability rate in Boston rose to an all-time recent high at 13.4%, a substantial uptick, equating to 15,100,000 SF.
20 spaces hit the market as available in the subject area in the last 7 days, equating to ~164,000 SF;
11 spaces (over 1,000 SF) came off the market ~52,000 SF;
The Harvard Square-Central Square marketplace is a 2.0mm SF office market of mostly class C & B buildings – with “Class A pricing” (average ask of $61.39/SF). The availability rate here is 13.8% equating to ~485,000 SF
The availability rate in Boston held for the last 2 weeks at 13.0% equating to ~15,000,000 SF.
Just 18 spaces hit the market as available in the last 7 days, equating to ~142,000 SF
8 spaces (over 1,000 SF) came off the market ~65,000 SF
Cambridge’s “Alewife/West Cambridge” is a 2.1mm SF market that has blossomed over the past 10 years, with lab development a key driver. Today’s availability rate here is a 18.3% split 60/40% between direct & sublet spaces
The availability rate in Boston continues to rise, at a new high of 13.0% equating to 15,000,000 SF.